Barclays Has Lowered Expectations for EverCommerce (NASDAQ:EVCM) Stock Price

EverCommerce (NASDAQ:EVCM) had its price target cut by Barclays from $12.00 to $9.00 in a report published on Friday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Several other equities analysts have also commented on EVCM. Royal Bank of Canada dropped their target price on EverCommerce from $14.00 to $11.00 and set an “outperform” rating for the company in a research note on Friday. Oppenheimer dropped their target price on EverCommerce from $13.00 to $12.00 and set an “outperform” rating for the company in a research note on Friday. Finally, Jefferies Financial Group dropped their target price on EverCommerce from $12.00 to $10.00 and set a “hold” rating for the company in a research note on Friday. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $11.27.

EverCommerce Stock Performance

NASDAQ EVCM opened at $9.36 on Friday. EverCommerce has a fifty-two week low of $8.10 and a fifty-two week high of $12.35. The stock has a market cap of $1.72 billion, a price-to-earnings ratio of -33.43 and a beta of 1.12. The business has a fifty day moving average of $10.17 and a 200-day moving average of $10.71. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 0.68.

EverCommerce (NASDAQ:EVCM) last released its quarterly earnings results on Thursday, March 13th. The company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.05). EverCommerce had a negative return on equity of 6.56% and a negative net margin of 7.53%. The company had revenue of $175.00 million during the quarter, compared to analyst estimates of $170.48 million. During the same period last year, the firm earned ($0.12) earnings per share. The business’s revenue was up 3.3% compared to the same quarter last year. As a group, analysts predict that EverCommerce will post -0.17 earnings per share for the current fiscal year.

Insider Buying and Selling at EverCommerce

In other EverCommerce news, CEO Eric Richard Remer sold 10,117 shares of the business’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $9.05, for a total transaction of $91,558.85. Following the completion of the sale, the chief executive officer now owns 7,686,872 shares of the company’s stock, valued at approximately $69,566,191.60. The trade was a 0.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Matthew David Feierstein sold 20,401 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $10.81, for a total value of $220,534.81. Following the completion of the sale, the president now directly owns 2,217,294 shares of the company’s stock, valued at $23,968,948.14. The trade was a 0.91 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 188,865 shares of company stock valued at $1,950,085. Company insiders own 11.60% of the company’s stock.

Institutional Investors Weigh In On EverCommerce

Several institutional investors and hedge funds have recently modified their holdings of EVCM. Janus Henderson Group PLC boosted its position in shares of EverCommerce by 34.6% in the fourth quarter. Janus Henderson Group PLC now owns 428,319 shares of the company’s stock worth $4,716,000 after buying an additional 110,183 shares during the period. Woodline Partners LP boosted its position in shares of EverCommerce by 24.8% in the fourth quarter. Woodline Partners LP now owns 535,094 shares of the company’s stock worth $5,891,000 after buying an additional 106,359 shares during the period. JPMorgan Chase & Co. boosted its position in shares of EverCommerce by 161.4% in the third quarter. JPMorgan Chase & Co. now owns 102,265 shares of the company’s stock worth $1,059,000 after buying an additional 63,139 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of EverCommerce in the fourth quarter worth about $694,000. Finally, Arrowstreet Capital Limited Partnership boosted its position in shares of EverCommerce by 84.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 133,370 shares of the company’s stock worth $1,468,000 after buying an additional 61,144 shares during the period. Hedge funds and other institutional investors own 97.91% of the company’s stock.

EverCommerce Company Profile

EverCommerce Inc, together with its subsidiaries, provides integrated software-as-a-service solutions for service-based small and medium sized businesses in the United States and internationally. The company’s solutions include business management software that offers route-based dispatching, medical practice management, and gym member management solutions; billing and payment solutions comprising e-invoicing, mobile payments, and integrated payment processing; customer experience solution, which include reputation management and messaging solutions; and marketing technology solutions that cover websites, hosting, and digital lead generation.